The internet has opened lots of opportunities for business and growth and eCommerce is one of them. With the addition of the AI propel the business on the greater height.
The advancement in technology will ease the work of vendors, sellers, buyers, distributors, and logistics to increase the efficiency in an eCommerce business.
Many other eCommerce businesses have already implemented AI technology. You can just order your Alexa to place an order for your printer cartridges when it gets over. Within a few days, you will receive your products on your step.
There are no. of e-commerce giants like Amazon, Alibaba, eBay, etc. which are using the AI to provide better customer experience and ease the process of buying the online products.
The eCommerce merchants or vendors may not be totally aware of the latest technologies but it doesn't matter to be an expert in the AI. The conversion of sales matters the lots.
Below we’ll come to know the multiple benefits of Artificial Intelligence in eCommerce websites.
Provides customer Support 24/7
Advanced Chatbot which is loaded with the tonnes of AI features helps to provide customer support even in the absence of the executives.
“This means your business is always open even when you’re sleeping”
Chatbot responds to the customers instantly and because they use Machine Learning to learn about the specific customer specifications and offer personalized and satisfactory answers and nurture them to drift towards the conversion.
Chatbot also grabs customer behavior and helps to offer a seamless online shopping experience. As compared to the traditional chatbots, AI chatbots deliver more result like:
- Address the users real needs
- Greater acceptance by users
- Keep optimizes with learning capabilities
- Engage the online customers 24/7
Personalized Recommendation of Products
AI helps to suggest the products to the website visitors through pop-up notifications, text messages or an email. The eCommerce Amazon generates its more than 30% revenue by cross-sale & upscale of the products. No doubt that AI is the reason behind it that it recommends the best products in front of customers while making the purchase. It avails the no. of benefits to the eCommerce business such as:
- Encourage the visitors to return on the website
- Higher retention and boost the sales
- Faster inventory turnover
- Saves the time of the customer in product searching
Add Advanced Security On the Website
Cybersecurity is always is one of the major concerns for all online businesses. The AI improves the security functionality of the eCommerce website and protects it from all the possible threats. The AI enables the website with robust security solutions on all levels.
According to IBM, AI furnishes benefits like:
- AI & ML add security against hackers & cybercriminals.
- AI can extract the huge amount of data from structured & unstructured sources
- It provides a deep analysis of the risk and potential errors.
- Secure all the transactions performed on the website.
Automated Warehouse & Inventory Management
Stock management is one of the important parts of the eCommerce business, enough stock needs to be kept to maintain the demands. The implementation of the AI on eCommerce helps to achieve this task in the best manner.
As compared with the traditional inventory management system, the AI algorithms are aware of the stock quantity. The AI surprises in inventory management:
- Forcast the on future demands.
- Analyze the previous and projected dales throughout
- Control the supply chain with great ease
- Keep watch on the supply of the vendors and their liabilities.
Artificial Intelligence Based Marketing Strategies
Either it is email marketing or remarketing of the potential buyers the AI empowers the marketing team to gain more exposure within the targeted audience. The AI gives new life to Email marketing helping the campaign to more targeted with a personalized touch.
The advantages which deliver by AI in email marketing are:
- The email gives a more personalized touch to the potential buyers.
- It can be scheduled to send at a particular time for the specific segment of the customers.
- It helps to extract the data from social media and other public forums in order to learn more about the customers
- Real-time changes can be done based on the customer's response
Removes Pirated or Fake Reviews
Product reviews help a lot while making the purchase and product review became an immense part of the eCommerce website architecture. Netizens read them and make their decision without confirmation that they are true or fake ones. Hence it severely affects the eCommerce business in a drastic manner.
The study indicated the AI had detected fake reviews with an accuracy of more than 80%. The AI uses a certain parameter to analyze the review adulteration:
- In most fake reviews, the first-person pronouns are used.
- AI Check the specifications of the products, mostly false reviews have most verbs.
- Fake similar review often gets repeated for multiple products
- False reviews are most specifics.
The Artificial Intelligence (AI) & Machine Learning (ML) are the technologies which are going to impact the eCommerce in much dramatic manner. It provides the most advanced features where no other technologies can offer. AI is helping the eCommerce business to enhance the user experience on the web portals which automatically leverage the sales of eCommerce. AI is helping the business to transform in the brands by providing the personalized experience to the buyers.